Personal Finance lifted by improved conditions

Chairman Christopher Rodrigues said that the Leeds-based company is looking to extend the maturity of its debt in 2010, after announcing plans to diversify its funding sources with a 1bn medium-term note programme to raise funds last month.

International Personal Finance, the former international arm of Bradford-based credit lender Provident Financial, was hit by bad weather in central Europe at the start of the year, but reported swinging to a first quarter profit last month.

Mr Rodrigues said: "We continue to make good progress.

"In Poland and, more broadly, in Central Europe we are benefiting from an improving collections performance and reduced levels of impairment as the impact of the adverse weather conditions in January and February begins to reverse.

"Trading in April was ahead of plan."

The group will publish its interim results on July 22.

At the company's annual general meeting held yesterday John Lorimer was elected as a non-executive director of the company and Ray Miles retired as a non-executive director.

Tony Hales has replaced Ray Miles as the senior independent director.